Home Growth may be slowing for Evolution in Q3

Growth may be slowing for Evolution in Q3

Evolution witnessed a 20% increase annually, year-on-year, in its operating revenue during Q3. To break this down, Evolution generated €385.8 million from its live casino division, marking a significant increase from the previous year’s €310.4 million. In contrast, its random number generator (RNG) segment reported revenue of €66.8 million, showing a decrease of €1.3 million compared to the previous year, and this figure represents the lowest earnings for this segment in a year.

RNG, which stands for Random Number Generator, is employed to create events that appear to lack any discernible pattern for the player. This can be achieved using either physical hardware devices or software programs.

In July this year, Martin Carlesund, Evolution CEO, said Evolution was working toward the goal of double-digit growth, saying, “With our operational improvements in place, I see that we have many opportunities to execute going forward.”

With the new report, Carlesund underscored the strong performance of the live casino division and emphasized its potential for further expansion, stating, “Our live casino revenue for the quarter reached €385.8 million, and we are witnessing a greater demand for our product than our current capacity allows. This underscores the remarkable popularity of our games.”

Evolution’s comprehensive report reveals a company that has progressively established itself in the market

While it may no longer be posting year-on-year growth rates of 100%, the sheer magnitude of the figures it presents solidifies its position as an industry powerhouse, effectively dominating the field.

The online casino market continues in its early growth stage. Regarding North America, Calesund expects to see significant growth as iGaming expands. Calesund says that North America is a region that will be developed over the long haul, as the U.S. begins to regulate.

Featured Image Credit: Image from the Evolution website; Thank you!

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The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Deanna was an editor at ReadWrite until early 2024. Previously she worked as the Editor in Chief for Startup Grind, Editor in Chief for Calendar, editor at Entrepreneur media, and has over 20+ years of experience in content management and content development.

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